|Thu June 24 2010 12:47:38|
Alibaba.com Acquires eBay Service Provider Vendio
By: Ina Steiner
Alibaba has acquired Vendio (formerly AuctionWatch). Alibaba will integrate AliExpress and Vendio ecommerce services into a complete solution for small business.
Here's the reason Alibaba gives in its press release:
- To gain access to more than 80,000 targeted small businesses in the U.S. with potential sourcing needs from suppliers on Alibaba.com's sourcing platform and AliExpress (www.aliexpress.com), a wholesale transaction platform operated by Alibaba.com.
- To provide access to ecommerce storefronts and multi-channel selling services for AliExpress customers looking to reach consumers online through the Vendio Platform.
The acquisition is part of the $100 million investment plan for AliExpress that Alibaba.com announced in April 2010. The deal is expected to close in July 2010.
After the closing, Vendio will become a new business unit within Alibaba.com and will retain its own brand name and operations. Mike Effle, current Vendio COO, will assume the role of the Vendio CEO and Rodrigo Sales, current Vendio CEO, will become a strategic advisor to the company.
Rodrigo Sales became involved with Vendio in 1998 when he was 24 years old. Originally it wanted to be a portal to the world of online auctions, but became a listing tool for eBay sellers. While it expanded the channels that it served over the years, including Amazon.com and offering storefronts for sellers, it relies a lot on the eBay marketplace.
I'll be speaking to Alibaba and Vendio shortly.
Link to press release.
Link to FAQs on Vendio.